IMPACT OF CURRENCY DEVALUATION ON MSMES FOR CHANGING UNEMPLOYMENT STATUS OF INDIA

Management

The impact of currency devaluation on Micro, Small, and Medium-Sized Enterprises (MSMEs) in relation to India's shifting unemployment situation is thoroughly examined in this article. The study's objective is to inform stakeholders about the precise consequences of currency devaluation on numerous MSMEs-related factors. The study uses a qualitative technique that combines surveys and interviews with MSME owners, business leaders, legislators, and other interested parties. Additionally, secondary data from official documents, scholarly works, and statistics sources are used. The results show that currency devaluation has negatively impacted MSMEs' ability to compete on the worldwide market, increased demand for their goods and services there, and sharply increased the price of imported raw materials. It has become difficult for MSMEs to function and acquire credit/loans due to inflationary pressures. The devaluation of the currency, on the other hand, has benefited job levels and given MSMEs additional business prospects. Given the right government policies and support, stakeholders firmly believe that currency devaluation has the ability to have a positive impact on India's overall unemployment rate. As a result, this study offers important new understandings into the unique consequences of currency devaluation on MSMEs and their implications for India's unemployment rate..

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